favorite this post Office Space (Loundon County) hide this posting unhide

Journey Forward (YJ4) a cancer care ministry of hope is seeking donated office space to host support groups, (cancer, survivors, alzheimer's etc), leadership training and disseminate information to individuals, caregivers, patients seeking much needed resources.

IRS Rules
The Internal Revenue Service calls office space donations in-kind donations. The IRS encourages in-kind donations by allowing individuals and businesses to take a tax deduction for the fair market value of the service. For office space, this is sale price of the space if it were placed on the market or the fair market value of a lease. The recipient must be a tax-exempt charitable organization or 501(c)(3). IRS rules do not allow donations for a portion of the owner's interest in a property. For example, if you own a multi-story building and allow a nonprofit to occupy one of the floors for free, you cannot take a deduction. The reasoning is that because you still own the building, you have lost no benefit of ownership.
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post id: 5939843549


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